keeper303:


What is the current rate?

4.31

.

keeper303:


What is the current rate?

Stanbic: 3.5

Why is ROI on MMFs drastically reducing? Anyone with understandable explanation please?

Abbasmh:
Why is ROI on MMFs drastically reducing? Anyone with understandable explanation please?

Treasury bills is the reason.
Fund managers invested in treasury bills last year when rate was 8+%, now the treasury bills are maturing and they need to reinvest in same treasury bills but at a lower rate of 4+% which is why the rates are down, Asset allocation limits them from investing in certain commercial papers so they are left with treasury bill.

Analyst forecast that rates may go up from H2, let's watch how it goes.

ernie4life:


Treasury bills is the reason.
Fund managers invested in treasury bills last year when rate was 8+%, now the treasury bills are maturing and they need to reinvest in same treasury bills but at a lower rate of 4+% which is why the rates are down, Asset allocation limits them from investing in certain commercial papers so they are left with treasury bill.

Analyst forecast that rates may go up from H2, let's watch how it goes.

ARM is as at today is 6.70%

ibechris:




ARM is as at today is 6.70%

It's dropping gradually based on maturity dates

ernie4life:


It's dropping gradually based on maturity dates

U are right.

FBN is 7.5% as at today( from my calculations)

Meanwhile are they not supposed to compound the interest today is 01/04/22
Being the beginning of the 2nd quarter.
My dashboard is still same. Interested not yet compounded. What's happening?
cc emmasoft

Franky826:
FBN is 7.5% as at today( from my calculations)

Meanwhile are they not supposed to compound the interest today is 01/04/22
Being the beginning of the 2nd quarter.
My dashboard is still same. Interested not yet compounded. What's happening?
cc emmasoft

Check again. it's done. Interest reinvested for ione customers.

Franky826:
FBN is 7.5% as at today( from my calculations)

Meanwhile are they not supposed to compound the interest today is 01/04/22
Being the beginning of the 2nd quarter.
My dashboard is still same. Interested not yet compounded. What's happening?
cc emmasoft

Axa mansard is also yet to compound theirs but I'm sure they will. Just a little patience

ernie4life:


It's dropping gradually based on maturity dates

Chai! E just tire me.

United mmf is even down to about 5%. Not encouraging at all.

Stanbic ain't doing me well at all. Rates to the floor. Piggyvest and opay be calling my funds.... 10% is still kinda safe. And I haven't seen any downside of using the major apps backed by MFBs.

Or what do guys think?

meeehn,too bad for stbc mmf no joy at all.switching over to opay,10% good for my liking.very sure they are reliable

ARM is trying .

They compounded in the morning of 1st of April and I redeem my capital on that same day for an emergency...I got my money same day.

ibechris:
ARM is trying .

They compounded in the morning of 1st of April and I redeem my capital on that same day for an emergency...I got my money same day.

Does that mean people are not keeping money in the banks again.

emmanuelewumi:



Does that mean people are not keeping money in the banks again.

People still keep money in the bank but smarter ones are now finding other avenues such as this.

ibechris:



People still keep money in the bank but smarter ones are now finding other avenues such as this.

The money I have in the bank at any point in time is 100k, the rest are in Money Market Funds. They are redeemed whenever I have expenses

emmanuelewumi:



The money I have in the bank at any point in time is 100k, the rest are in Money Market Funds. They are redeemed whenever I have expenses

Do have any idea of coronation money market fund??

Good evening fam

I want to move from Stanbic IBTC MMF to their Dollar fund, my question is the initial deposit of $1000 what rate will be used?

Can I effect the change directly on the app?

Any other advice.

Thanks

emmanuelewumi:



The money I have in the bank at any point in time is 100k, the rest are in Money Market Funds. They are redeemed whenever I have expenses

That is the way forward honestly.

netzro:
Good evening fam

I want to move from Stanbic IBTC MMF to their Dollar fund, my question is the initial deposit of $1000 what rate will be used?

Can I effect the change directly on the app?

Any other advice.

Thanks

Going by regulatory procedures, all monies for a particular investment must be brought in with the same currency denomination of that investment, any other arrangement is peculiar to that investment house and you will need to engage them on that.

For Investment one, to invest in VDF - Vantage dollar fund, you must bring in your dollars by transfer. Naira is not accepted for dollar mutual fund and vice versa

Can someone suggest a very short time 3-6 month where i can just dump this 30million and capital 100% safe?

emmasoft:


Going by regulatory procedures, all monies for a particular investment must be brought in with the same currency denomination of that investment, any other arrangement is peculiar to that investment house and you will need to engage them on that.

For Investment one, to invest in VDF - Vantage dollar fund, you must bring in your dollars by transfer. Naira is not accepted for dollar mutual fund and vice versa

Ok

netzro:
Good evening fam

I want to move from Stanbic IBTC MMF to their Dollar fund, my question is the initial deposit of $1000 what rate will be used?

Can I effect the change directly on the app?

Any other advice.

Thanks

Withdraw your funds and source your dollar from BDC at #585. Then open a dorm account, pay the dollar into the dorm account. From the dorm account you can transfer to ur Stanbic dollar fund account.

Indigbo:
Can someone suggest a very short time 3-6 month where i can just dump this 30million and capital 100% safe?

MBA forest

ibechris:
ARM is trying .

They compounded in the morning of 1st of April and I redeem my capital on that same day for an emergency...I got my money same day.

Yeah I'm must confess that promptness and smartness of ARM is quite commendable. I have with 3 other orgs but will easily rank them among the best.

emmanuelewumi:



The money I have in the bank at any point in time is 100k, the rest are in Money Market Funds. They are redeemed whenever I have expenses

Lol. But the challenge is if everyone starts doing this where will banks get money to loan others drive the economy

bjtinz:


Lol. But the challenge is if everyone starts doing this where will banks get money to loan others drive the economy

Currently running three loans and they are not from banks but from the subsidiaries of Asset Management firms

emmanuelewumi:


Currently running three loans and they are not from banks but from the subsidiaries of Asset Management firms

Hmm. I see

olystic:

Withdraw your funds and source your dollar from BDC at #585. Then open a dorm account, pay the dollar into the dorm account. From the dorm account you can transfer to ur Stanbic dollar fund account.

The dollar transfer charges will spoil what he will get at the end of the day. There might even be loss sef.